After improving the sentiments in global markets, softening commodity prices and BJP’s victory in 4 out of 5 states, the Indian markets saw a decline for 4 consecutive weeks and on March 11, the market gained more than 2 percent weekly. of closing. Last week was quite an action packed week. Last week Nifty faced resistance around 20-DMA (16,767) and 200-DEA (16,693) and after touching 7-month low of 15,671 this week, Nifty failed to close above these levels.
Market experts say that now if Nifty closes strongly above 16,750-16,800, then we can see its level of 17,000 and above. On the downside, support is coming for Nifty at 16,450-16,200. Last week Nifty closed at 16,630.45 with a gain of 385 points or 2.37 per cent and it formed a Bullish Engulfing Pattern on the weekly chart which is a good sign for the market.
Sameet Chavan of Angel One Says that there is a hurdle for it at 16,750-16,800. If Nifty stays strong by going above it, then it will be confirmed that the low of March 8 was the bottom of Nifty. On the downside, for Nifty, immediate support is visible at 16,450- 16,200. We expect some further consolidation in Sensex-Nifty and some reversal in select stocks. For the current week, we are of the opinion that in case of consolidation, we should adopt a strategy of betting on selected stocks, in which we will get good trading opportunities.
Today’s 10 short term trading picks, which can make huge profits in 3-4 weeks
Top picks of Ruchit Jain of 5paisa.com
Inox Leisure: Buy | LTP: Rs 424.65 | This stock will have a buy call with stoploss of Rs 412 and target of Rs 460. This stock can see a rise of 8 percent in 3-4 weeks.
Top picks by Aastha Jain of Hem Securities
Maithan Alloys: Buy | LTP: Rs 1,285 | This stock will have a buy call with a stop loss of Rs 1,030, target of Rs 1,450-1,600. This stock can see a rise of 13-25 percent in 3-4 weeks.
Gufic Biosciences: Buy | LTP: Rs 230.40 | Buying advice in this stock with a stop loss of Rs 190 for a target of Rs 250-270. This stock can see a rise of 9-17 percent in 3-4 weeks.
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Top Picks by Shrikant Chauhan of Kotak Securities
Tata Steel: Buy | LTP: Rs 1,302 | This stock will have a buy call with a stop loss of Rs 1,200 with a target of Rs 1,450-1,500. This stock can see a rise of 11-15 percent in 3-4 weeks.
Jigar Patel’s top picks from Anand Rathi Shares
Wipro: Buy | LTP: Rs 586.20 | Buying advice in this stock with a stop loss of Rs 530 and target of Rs 640 is a buy call. This stock can see a rise of 9 percent in 3-4 weeks.
TCS: Buy | LTP: Rs 3,599.15 | Buying advice in this stock with a stop loss of Rs 3,450 and target of Rs 3,950 would be a buy call. This stock can see a rise of 10 percent in 3-4 weeks.
Grasim Industries: Buy , LTP: Rs 1,566.25 | This stock will have a buy call with a stop loss of Rs 1,450 for a target of Rs 1,775. This stock can see a rise of 13 percent in 3-4 weeks.
Nagraj Shetty’s short term fix of HDFC Securities
Laurus Labs: Buy , LTP: Rs 578 | Buy in Laurus Labs with a stop loss of Rs 535 and target Rs 640. This stock can give up to 11 per cent returns in 3-4 weeks.
Prism Johnson: Buy , LTP: Rs 126 | Buy Prism Johnson with a stop loss of Rs 117 and target Rs 140. This stock can give up to 11 per cent returns in 3-4 weeks.
Mahindra Logistics: Buy , LTP: Rs 430 | Buy Mahindra Logistics with a stop loss of Rs 402 and target Rs 475. In 3-4 weeks, this stock can give returns of up to 10.4 per cent.
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